[Bitcoin 83000, can we still wait for a pullback? The third wave of rally is on the way]
Bitcoin has risen from 62000 to 75000, and then to 87000.
If you have been waiting for a "deep pullback," you might still be waiting now.
The question arises: Bitcoin is already at 83000 and even back above 84000, can we still wait?
Old Jin's opinion is very clear:
I do not recommend waiting indefinitely.
The most common mistake in a strong market is not buying wrong, but rather waiting for a perfect position that you imagine, ultimately missing the entire trend.
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1. Why am I not in a hurry to look for a deep pullback now?
First, let's look at the chart. This round of Bitcoin started around 74912, peaked at 87360, and then pulled back to a low near 82800.
But here’s the key point: it did not continue to break lower after the drop; instead, it returned back to 84000.
What does this mean?
This indicates that the current market rhythm is still:
Upward → Retracement → Raise again → Attempt to go up again.
Especially in a strong market, what truly needs attention is not "whether it has retraced," but rather: after the pullback, whether the low continues to rise.
As long as this structure is not broken, you cannot simply define the market as having peaked just because the price has risen.
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2. 87000 is not the endpoint, but the next door in the current 4-hour structure, 87360 is the previous high.
So what's next is actually very simple: look for support around 84000, watch the breakout strength at 85000~85500, and observe the breakthrough of the previous high at 87360.
If the price stabilizes back above 85000 and further breaks through 87360, then the market will enter a new phase.
At that point, discussions won't be about "Can we still buy at 83000?"
But rather, "Can we still chase after 90,000?"
This is the most interesting aspect of a strong market.
Many people always hesitate to buy at low levels, and after the price rises, they feel it's too high.
The result is that when they truly start chasing, it's often not at 83000, but at even higher levels.
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3. So when will the true deep pullback arrive? I am not in a hurry. If this round continues upward, I would rather wait until after 90,000. Why? Because market sentiment often goes through this process: beforehand: "Why hasn't it dropped yet?" When it reaches 90,000: "Is it going to 100,000?" After breaking 90,000: "100,000 is just a matter of time."
And then upward: "If you don't buy now, it will be too late." Those who have not gotten in three times before start to chase higher.
At this stage, that’s when you really need to be alert.
A deep pullback does not usually occur when everyone is afraid, but rather when everyone thinks it won't drop.
So do not interpret the word “pullback” as needing to fall back to a specific price.
A retracement in a trending market might just be: sideways movement, shallow dip, quick recovery, and then continue upwards.
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4. The third wave of rally is forming
From 62000 to 75000, it is the first segment of the trend.
From 75000 to 87000, it is the second segment of the trend.
Now, after experiencing a pullback near 82800 and returning back to 84000, the market is trying to move into the next segment.
Therefore, Old Jin is currently more focused on:
Can 84000 be held, can 85000 stabilize again, and can 87360 be broken through.
If these levels are gradually taken down, then the market’s attention will naturally continue to move upward.
Of course, no matter how strong the trend, you should not chase blindly.
No chasing at high prices, no guessing peaks, buy on retracements, and take profits when available.
The stronger the market, the more you need to respect the rhythm.
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5. Old Jin's final word
Many people always want to wait for an "absolute low point."
But the trading market is not that perfect.
From 62000 waiting for 75000,
from 75000 waiting for 83000,
and by the end, the price has reached 87000.
The real trend will not stop and wait for you just because you are not ready.
So at this stage, what I value more is not "can Bitcoin still drop," but rather:
Is there support when it drops, and are the lows continuing to rise.
If the structure continues upward, then the third wave of rally is worth continuing to watch.
Don’t wait until it’s too late to remember what Old Jin said.
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